Fed Chair Powell says it’s ‘very, very unlikely’ the U.S. will see 1970s-style inflation
Federal Reserve Chairman Jerome Powell acknowledged Tuesday that some inflation pressures are stronger and more persistent than he had anticipated, though still not on par with some of the worst episodes the U.S. has seen historically. Under questioning from a...
Existing home sales in May drop for fourth straight month as affordability squeezes buyers
Sales of existing homes in May dropped for the fourth straight month due to a very low supply of homes on the market. Existing home sales fell 0.9% last month from April to a seasonally adjusted annualized rate of 5.8...
Watch Fed Chair Powell testify live before House Covid panel
[The stream is slated to start at 2 p.m. ET. Please refresh the page if you do not see a player above at that time.] Federal Reserve Chairman Jerome Powell testifies Tuesday before the House Select Subcommittee on the Coronavirus...
May existing home sales drop for a fourth straight month as affordability squeezes buyers out
Sales of existing homes dropped for the fourth straight month due to a very low supply of homes on the market. Existing home sales fell 0.9% in May from the previous month to a seasonally adjusted annualized rate of 5.8...
Victoria’s Secret reportedly borrows $500 million to finance split from Bath & Body Works
Pedestrians walk past a Bath & Body Works store. Craig Warga | Bloomberg | Getty Images Lingerie retailer Victoria’s Secret is taking out a $500 million loan to finance its split from Bath & Body Works, Bloomberg News reported Monday....
Powell notes economic improvement, but says the pandemic remains a risk
Jerome Powell, chairman of the U.S. Federal Reserve, speaks during a House Select Subcommittee on the Coronavirus Crisis hearing in Washington, D.C., U.S., September 23, 2020. Stefani Reynolds | Reuters Federal Reserve Chairman Jerome Powell said in testimony prepared for...
Bitcoin drops as China intensifies crypto mining crackdown
A bitcoin mine near Kongyuxiang, Sichuan, China on August 12, 2016. Paul Ratje | The Washington Post | Getty Images Bitcoin sank Monday on reports that China has intensified its crackdown on cryptocurrency mining. The world’s largest digital currency fell...
Stocks making the biggest moves midday: Nvidia, Lennar, Adobe and more
A sign is posted in front of the NVIDIA headquarters on May 10, 2018 in Santa Clara, California. Justin Sullivan/Getty Images Check out the companies making headlines in midday trading. Nvidia — Shares of Nvidia gained 2.3% midday, then closed...
Goldman Sachs ramps up bitcoin trading in new partnership with Mike Novogratz’s Galaxy Digital
Goldman Sachs’ efforts to help hedge funds and other big institutional clients wager on bitcoin have taken a step forward. The bank has begun trading bitcoin futures with Galaxy Digital, the crypto merchant bank founded by Mike Novogratz, CNBC has...
Fed’s Jim Bullard sees first interest rate hike coming as soon as 2022
St. Louis Federal Reserve President James Bullard told CNBC on Friday that he sees an initial interest rate increase happening in late-2022 as inflation picks up faster than previous forecasts had anticipated. That estimate is even quicker than the outlook...